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theguardian.com
UK borrowing hits higher than expected £24.3bn in April; retail sales drop as drivers cut back on fuel - business live
Rolling coverage of the latest economic and financial newsThe boss of Standard Chartered has apologised for saying that AI would replace “lower-value human capital”, after his comments triggered a severe backlash this week.On Tuesday, the London-headquartered lender outlined plans to cut more than 7,000 jobs over the next four years as it increasingly uses AI.It’s not cost-cutting. It’s replacing in some cases lower-value human capital with the financial capital and the investment capital we’re putting in.In that context, I said that lower-value roles are more vulnerable to automation, and that we have a responsibility to help colleagues move into higher-value roles.…We will continue to speak honestly about the impact of technological change, and we will continue to act responsibly in helping our people to adapt and succeed. Continue reading...
cnbc.com
Lenovo shares jump nearly 20% on record earnings as AI revenue nearly doubles
Shares of Lenovo surged over 15% on Friday, after the electronics giant posted strong revenue growth bolstered by its artificial intelligence business.
bbc.com
Laura Pomfret - CCJs, decrees and unpaid court debts
Laura Pomfret - CCJs, decrees and unpaid court debts
cnbc.com
Asia-Pacific markets trade higher as investors assess U.S.-Iran peace deal diplomacy
While oil prices fell in U.S. trading, reports that Tehran intends to keep its enriched uranium stockpile within the country stand to complicate negotiations with the U.S.
cnbc.com
U.S., Iran signal peace progress — but remain at odds over enriched uranium, Strait of Hormuz tolls
U.S. Secretary of State Marco Rubio on Thursday said there were "good signs" that an agreement to end the Middle East conflict is in sight.
bbc.com
Government borrowing higher than expected in April
Borrowing, the difference between spending and income from taxes, was £24.3bn last month.
cnbc.com
Puig plunges after Estée Lauder tie-up talks terminated; European stocks open higher
European stocks opened higher on Friday as investors monitor the U.S.-Iran war and a slew of economic data.
cnbc.com
Guzman y Gomez shares surge as much as 20% after fast-food chain says it will exit U.S. market
Guzman y Gomez's shares surged after announcing that it has decided to exit the U.S. market while keeping its Australian business as the main focus
cnbc.com
SoftBank Group adds over $61 billion to market cap in two days as shares surge on AI led optimism
Shares of SoftBank Group extended gains for a second straight session Friday.
cnbc.com
China calls for APEC cooperation as commerce minister skips opening over ‘urgent official business’
China's international trade representative Li Chenggang said he was chairing Friday's meeting as Commerce Minister Wang Wentao had urgent matters to attend to.
theguardian.com
Andy Burnham’s Manchester has a defining spirit – and Britain could do with a lot more of it | John Harris
Call it a mix of collectivism and entrepreneurialism or just an overarching vibe, but the mayor’s philosophy could be on the way to WestminsterAmong the underrated later work of those revered sons of Manchester the Smiths, there is a completely jaw-dropping song simply titled London. Full of fury and excitement, it depicts a Mancunian as he boards a train, travelling to the capital full of ambition and hope, but also gripped by a gnawing ambivalence. Andy Burnham, whose love of the band is hardly a surprise, may well recognise not only its defining theme, but the song’s accidental encapsulation of his decision to try to make his way to the House of Commons, in a line crooned by Morrissey in slightly mocking tones: “And do you think you’ve made the right decision this time?”Even if some observers only give him a 45% chance of winning, it looks like Burnham has, particularly when it comes to his pitch for power. Eleven years ago, let us not forget, a somewhat different incarnation of the future Greater Manchester mayor was one of four candidates for the Labour leadership, along with Jeremy Corbyn, and chose to stage one of his launch events at the City of London HQ of the auditing firm Ernst & Young. There he said he might back further benefit cuts, and claimed that too many people associated Labour with “giving people who don’t want to help themselves an easy ride”. In 2022, he told me this was the result of bad advice: “I listened to people that I shouldn’t have, really. It was tone-deaf … it wasn’t me. It wasn’t authentic.”John Harris is a Guardian columnist Continue reading...
bbc.com
Jailed tycoon's Birkin bags sell for over half a million dollars
The luxury handbags sold in a government auction in Ho Chi Minh.
theguardian.com
Homes for sale in England with great gardens for parties – in pictures
From a farmhouse with a wildflower meadow to an award-winning London flat with a neat garden for al fresco dining Continue reading...
theguardian.com
Big oil’s war profits may have a silver lining after all
As conflict in Iran sends prices soaring, fossil fuel companies are seeing extraordinary gains – but the crisis may also accelerate the shift towards clean energy• Don’t get Down to Earth delivered to your inbox? Sign up hereA friend of mine was recently left in tears after filling up the car she relies on to drive to work. Thanks to the US-Israeli attacks on Iran, prices at the pumps have soared. She wasn’t sure how her family was going to make it to the next paycheck.It is a personal story and a distressing one, but the big picture is truly obscene. Fossil fuel companies are raking in monstrous, unearned war profits taken from the pockets of people like you, me, my friend, and any of us who fills up a vehicle or pays an energy bill.UK ‘built for climate that no longer exists’ and needs urgent changes to survive global heating, report warnsRainforests pushed to breaking point by new demands for resources, report says‘Should we leave them to die?’ The battle over how to save orangutans from the curse of palm oil Continue reading...
cnbc.com
CNBC Daily Open: Wall Street set for a winning week
Major U.S. markets look set to end the week in the green despite a rocky start to the week's trade with bond market jitters still a concern.
cnbc.com
Crypto bros, scalpers and Logan Paul: Inside the world of Pokémon where cards are sold for millions
A Pokémon card boom is being driven by nostalgia, blockbuster card sales and speculation.
cnbc.com
Japan core inflation softens to over four year low, weakening case for BOJ rate hike
Core inflation — which strips out prices of fresh food — was lower than the 1.7% expected by economists polled by Reuters and below the 1.8% reading in March.
theguardian.com
Police appeal for information about alleged sexual misconduct in Andrew investigation
Thames Valley police believe more witnesses may be out there in inquiry into alleged misconduct in public office by former princePolice investigating Andrew Mountbatten-Windsor want witnesses to contact them if they believe they have information about alleged sexual misconduct, corruption, fraud or the sharing of confidential information involving the king’s brother.In a sign of the potential expansion of their “unprecedented investigation”, Thames Valley police vowed to rigorously investigate claims against the former Prince Andrew. Continue reading...
theguardian.com
Ditched government projects lost taxpayer £6.6bn last year, watchdog says
Spending committee finds MoD most wasteful and also points to cancelled schemes such as Rwanda and StonehengeCancelled government projects such as the Rwanda deportation scheme and the road tunnel under Stonehenge are wasting billions of pounds of taxpayer money a year, parliament’s spending watchdog has found.About £6.6bn was written off by government departments last year alone – state spending that did not achieve its intended objectives or create any value for the taxpayer, the public accounts committee said. Continue reading...
cnbc.com
The Cuba situation is starting to resemble a pre-conflict playbook
The U.S. pressure campaign against Cuba appears to have entered a new phase.
cnbc.com
Airlines are struggling but China's 'Big Three' face a tougher year than most
China's carriers face sky-high jet fuel, lack of hedging strategies, and a customer base that can easily pivot to cheaper high-speed rail services.
cnbc.com
Indian telecom major Bharti Airtel is doubling down on Africa venture, UK's BT
Indian telecom giant Bharti Airtel is raising its stake in British and African ventures as it hunts for growth overseas
theguardian.com
Trump’s new ‘slush fund’ for his pals – podcast
This week, Donald Trump dropped a personal $10bn lawsuit he had against the Internal Revenue Service in exchange for a so-called anti-weaponisation fund. The $1.8bn fund will be used to compensate those who think they have been unfairly investigated by the government in the past.This week, Jonathan Freedland speaks to the legal analyst Kristy Greenberg about why critics are calling this fund ‘corruption on steroids’Archive: AP Continue reading...
bbc.com
Musk's SpaceX postpones Starship launch as mega share sale looms
It comes just a day after the firm revealed plans for a record-breaking stock market debut.
cnbc.com
An AI trade involving energy and infrastructure that's doubled your money, topping Nvidia
If you put the same money into a basket of companies that are building out AI infrastructure and energy sources, you’ve done much better than stocks like Nvidia.
cnbc.com
Oil resumes rally as Iran reportedly wants to keep enriched uranium within the country
The International Energy Agency warned that as travel demand grows during the summer season, oil markets could enter a "red zone" soon.
cnbc.com
How Fanatics cornered the sports collectibles market
As FIFA's exclusive collectibles licensee, Fanatics is set to tap a rapidly growing market in the world's largest sport, but longstanding criticisms follow.
cnbc.com
SpaceX scrubs test flight of massive Starship rocket, will retry Friday
SpaceX's attempted Starship launch follows the company's release of its IPO prospectus, which set the stage for what's likely to be a record offering.
bbc.com
Love factually: Dating start-ups promise to cut the cheats
Frustration with fake dating profiles has spurred new dating services with different approaches.
bbc.com
'Monitoring the situation': Why young men are drawn to prediction markets
Prediction markets are a fast-growing, multi-billion-dollar industry, and appeal disproportionately to young men
bbc.com
UK police bosses say unsafe social media platforms should be blocked for under-16s
The NCA and NPCC say children should be blocked from accessing sites which do not stop them seeing nudes or being contacted by strangers.
bbc.com
Police to score train firms on tackling sexual harassment
The government will not be financial or legal penalties for train operators who fail to meet the targets.
bbc.com
Prepare for half-term queues at Dover due to EU border process, port says
It is the first holiday period since the EU's new border system was fully implemented.
bbc.com
Stop blaming young people for being unemployed, says Amazon's UK boss
John Boumphrey says the education system "isn't necessarily producing young people who are ready for work".
theguardian.com
Meta settles major social media addiction lawsuit with school district
Kentucky is one of about 1,200 school districts across the US that have each sued Meta, TikTok, Snap and YouTubeMeta agreed to settle a major lawsuit on Thursday with a school district in Kentucky over claims that its social networks are designed to be addictive, leading to harm in children. The settlement comes less than three weeks before the case was scheduled to go to trial in federal court in California.About 1,200 school districts from across the US came together to each sue Meta, TikTok, Snap and YouTube for allegedly fueling a mental health crisis in children. TikTok, Snap and YouTube settled their suits with Kentucky over the past couple of weeks. Continue reading...
cnbc.com
Quantum stocks soar as U.S. plans $2 billion funding incentives and equity stakes
Quantum computing shares popped as the U.S. government announced plans to award grants to nine firms operating in the space.
cnbc.com
Job training for robots: How China is getting machines ready to join the workforce
Tesla CEO Elon Musk said on the company's fourth-quarter earnings call that China is the biggest competition for humanoid robots.
bbc.com
Meta settles social media addiction case with US school district
The trial had been set as a test case for 1200 other school districts making similar claims.
cnbc.com
Meta, Broadcom and others to launch $125 million semiconductor research hub at UCLA
Broadcom, Meta, Applied Materials, GlobalFoundries and Synopsys are joining forces to launch a $125 million "Semiconductor Hub" at UCLA.
theguardian.com
Spotify and Universal Music agree deal to let subscribers create AI remixes
Licensing agreement will allow listeners to use AI to create content on streaming platform for first timeSpotify and Universal Music Group have agreed on a deal that will allow subscribers to generate song covers and remixes using artificial intelligence.The licensing agreement is the first time the Swedish streaming company will allow listeners to use AI to create content through its platform. Continue reading...
cnbc.com
Prediction markets are fueling a high-stakes brawl between states and federal regulators
Sixteen states are in legal proceedings against prediction market platforms, while one state has moved to ban them.
cnbc.com
Anthropic, Microsoft in talks for AI chip deal after $5 billion investment
Microsoft has not made the Maia 200 chips available to customers, but they are used in the company's data centers, offering better efficiency than other silicon.
cnbc.com
AI spending expected to top $1 trillion in 2 years. That estimate's way too low if Jensen Huang's right
"The capex is at a trillion dollars, and it's growing toward the three to four [trillion-dollar mark]," said Nvidia CEO Jensen Huang.
bbc.com
Government pledges £120m to support ceramics firms
Rob Flello, boss of Ceramics UK, says the support recognises the importance of the industry.
bbc.com
Cheaper theme park tickets and children's meals as VAT to be cut for some attractions this summer
Chancellor Rachel Reeves made a series of announcements aimed at relieving cost-of-living pressures.
cnbc.com
Trump postpones AI executive order signing: 'I didn't like certain aspects'
Trump said that AI is "causing tremendous good," and he was concerned that the executive order "could have been a blocker."
bbc.com
Walmart warns US shoppers are cutting spending as higher petrol prices bite
The retail giant said it expects customers to cut back in the coming months due to higher pump prices.
theguardian.com
Sadiq Khan sparks row with Met after blocking £50m AI deal with Palantir
Exclusive: Scotland Yard criticises London mayor’s decision as disappointing and warns it could hit policing Sadiq Khan has blocked a £50m Metropolitan police deal with the controversial US tech company Palantir, sparking a bitter row between the London mayor and Scotland Yard.After the UK’s largest police force had agreed to use Palantir’s AI technology to automate intelligence analysis in criminal investigations, Khan intervened, citing “serious concerns” about how the deal had been struck. Continue reading...
theguardian.com
Met Palantir row goes to heart of how public services should use AI
UK’s largest police force says Palantir is only company that can supply what it needs. But is it worth the controversy that comes with it?London mayor Sadiq Khan blocks £50m Met police deal with PalantirIt’s bot v bobby. The row over whether the controversial US AI company Palantir should be paid £50m to help the Metropolitan police goes to the heart of how public services will be delivered in the coming years.A similar dynamic is playing out in hospitals, schools and town halls, but right now police chiefs are turning to AI to escape a fiscal bind. The UK’s largest police force is shrinking; a £125m funding shortfall means it faces cutting 1,150 posts. Scotland Yard wants to use AI to deploy Palantir’s systems to comb through human intelligence reports, email caches, phone records and the rest of the torrent of digital evidence trail left by 21st century crime. Continue reading...
theguardian.com
The Guardian view on the Mountbatten-Windsor papers: they expose the collapse of Britain’s 'good chap' state | Editorial
New papers matter less for royal gossip than for what they reveal about the UK’s fragile constitutional culture of trust, prestige and informal powerThe most shocking revelation in files released on Andrew Mountbatten-Windsor’s appointment as Britain’s trade envoy isn’t that he loves golf or prefers ballet over theatre. It is that no one asked the obvious question: how risky would it be for a headline-grabbing prince with no business experience to front the UK’s commercial diplomacy without formal vetting? The 11 documents that were released on Thursday show that having experience and being an expert weren’t as important as being a member of the royal family. After the Epstein scandal, those assumptions no longer look merely anachronistic. They look dangerous.The late Queen pushed, wrongly as it turned out, for her son to inherit the role from the Duke of Kent, according to the papers released through a humble address motion. David Wright, then head of British Trade International, wrote that it was her wish for the then Duke of York to assume a “prominent role in the promotion of national interests”. In 2000, royalty was not peripheral to Britain’s commercial diplomacy. It was central to it.Do you have an opinion on the issues raised in this article? If you would like to submit a response of up to 300 words by email to be considered for publication in our letters section, please click here. Continue reading...
theguardian.com
The Guardian view on Grenfell prosecutions: court dates cannot come soon enough | Editorial
Survivors are right to be angry at the nine years taken to reach this point. Those to blame for the fire must face justiceRelief at this week’s news that police are sending files to the Crown Prosecution Service, recommending charges against 77 individuals and organisations for their roles in the Grenfell Tower fire, is mixed with grief and anger. On 14 June the disaster’s survivors and their supporters will gather for the ninth annual silent walk around the west London neighbourhood in which the ruined tower stands. Next year marks a decade since the fire.The public inquiry into the disaster pointed the finger at multiple public and private bodies, decisions and individuals. Three construction firms, Arconic, Kingspan and Celotex, were found to have been deliberately dishonest about their products. Poor regulation of building safety was the fault of central government. Kensington and Chelsea council, and its tenant management organisation, were strongly criticised for poor fire safety and other lapses. So were the architects and contractors commissioned to oversee the block’s refurbishment. The London fire brigade was culpable for its dangerous “stay put” policy, which should have been changed following previous cladding fires, including the one that killed six people in Lakanal House, south London, in 2009.Do you have an opinion on the issues raised in this article? If you would like to submit a response of up to 300 words by email to be considered for publication in our letters section, please click here. Continue reading...
cnbc.com
Tesla brings 'Full Self-Driving (Supervised)' to China after years of delays as local EV rivals race ahead
Tesla's 'Full Self-Driving (Supervised)' capabilities are now available in China, the company said in an X post on Thursday, after years of delays.
theguardian.com
Tui ends sponsorship of Married at First Sight after sexual misconduct allegations
Travel firm exits partnership after Panorama revealed allegations by three women against on-screen husbandsThe travel operator Tui has ended its sponsorship of the UK and Australian versions of Married at First Sight on Channel 4 after contestants on the former made allegations of rape and sexual misconduct.An edition of the BBC’s Panorama programme this week revealed allegations by two anonymous women that they had been raped by their on-screen husbands on the show. A third woman, Shona Manderson, accused her on-screen husband of sexual misconduct. All three men deny the claims. Continue reading...
bbc.com
Cost of living measures 'missed opportunity', says Welsh first minister
Rhun ap Iorwerth says "deeper" action on energy prices would be better than the chancellor's moves.
theguardian.com
HS2 is the wildest white elephant in British history. Please put it out of its misery | Simon Jenkins
The government is in thrall to the sunk-cost fallacy. Scrap the project, and use the money for a renaissance in urban transitSo it is official, as if that makes a difference. After a 15-month review by the new chief executive, the transport secretary, Heidi Alexander, has revealed that HS2 will now cost up to £102.7bn and trains may not start until 2039. Alexander called the original design a “massively over-specced folly” and called the increase in time and costs “obscene”. Indeed it possibly ranks as the wildest white elephant in British history. In comparison, Donald Trump’s White House ballroom is a garden shed, and Dubai’s Burj Khalifa a mere sandcastle.This week, Alexander, the ninth transport secretary since HS2 was proposed, admitted the project made her angry. As she dusted off her department’s latest defence of its appalling conduct of this fiasco, she tried to feign surprise. She has been in office 18 months. Don’t tell us she did not know.Simon Jenkins is a Guardian columnistDo you have an opinion on the issues raised in this article? If you would like to submit a response of up to 300 words by email to be considered for publication in our letters section, please click here. Continue reading...
theguardian.com
Oil markets nearing ‘red zone’ as Iran crisis continues, warns IEA chief
Surging demand, low reserves and reduced Middle East exports predicted to cause global crunch by AugustOil markets will enter the “red zone” by July and August as stocks dwindle before the summer travel season amid a shortage of fresh oil exports from the Middle East, the executive director of the International Energy Agency warned on Thursday.Fatih Birol added that the most important solution to the Iran war energy shock was a full and unconditional reopening of the strait of Hormuz. Continue reading...
theguardian.com
Former boss of collapsed investment firm jailed for illegally selling hot tub
Michael Thomson admitted to breaching a restraining order by selling a range of luxury itemsThe former boss of the collapsed investment firm London Capital & Finance (LC&F) has been imprisoned for six months for contempt of court, after admitting breaching a restraining order by selling luxury items including horse saddles and a hot tub.Michael Thomson’s actions were characterised by Judge Milne as an attack on the administration of justice. Thomson was sentenced alongside his wife, Debbie, who also admitted to the offences but whose six-month sentence was suspended for a period of two years. Continue reading...
cnbc.com
SpaceX is heavily reliant on Starlink for growth and profit as it marches toward Nasdaq listing
SpaceX's IPO prospectus underscores the importance of Starlink to the company's operations.
theguardian.com
BT warns of smartphone price rises due to chip shortages from AI boom
Telecoms company CEO says tech firms are buying up memory chips to power datacentres relied on by AIBT has said the cost of smartphones could rise as technology companies buy up semiconductor chips because of the boom in artificial intelligence, putting pressure on supply chains.The telecoms company’s chief executive, Allison Kirkby, said she was anticipating shortages as tech firms bought large quantities of memory chips to power the datacentres relied on by AI. Continue reading...
theguardian.com
The main takeaways from Elon Musk’s plans for $1.75tn SpaceX flotation
Prospectus for tycoon’s sprawling empire reveals his plan to keep control – and ambition to colonise MarsSpaceX reveals plan for $1.75tn stock market debutElon Musk’s SpaceX has revealed plans for a highly anticipated $1.75tn (£1.3tn) flotation next month as he seeks investor backing for his quest to make life “multiplanetary”.SpaceX is a sprawling business, encompassing the eponymous rocket launch company, the Starlink satellite broadband service, Musk’s xAI artificial intelligence startup and the social media platform X, formerly known as Twitter. Continue reading...
cnbc.com
Eli Lilly says next-generation weight loss drug clears crucial obesity trial
The results bring Lilly one step closer to filing for approval of the injection, retatrutide, which works differently from existing injections and pills.
theguardian.com
‘LA is not film friendly’: how Hollywood’s woes became a political cudgel in mayoral race
Troubled Baywatch reboot production echoes film-making woes in a city best known for its movie and TV industryThe fight for the future of Los Angeles, America’s second-largest city, usually plays out in the grand art deco offices and committee rooms of city hall. But in an election year full of surprises, the most consequential battle may in fact have begun on a beach.And not just any beach: we’re talking about the fantasy sandbox inhabited by buff gym rats and sun-kissed bikini babes on Baywatch and its multiple spin-offs. In February, Los Angeles welcomed the latest incarnation of the hit TV show back to southern California after a long hiatus, including detours to Hawaii and Georgia. City officials heralded its return as a sign of better times for local film and television production following years of decline and tens of thousands of job losses in the heart of Hollywood. Continue reading...
theguardian.com
Britain’s politicians need to worry less about the bond markets – and more about the Bank of England | Daniela Gabor
A new model of central banking would weaken the power of bond vigilantes – and help progressive politicians pay for transformative changeDaniela Gabor is professor of economics and macrofinance at Soas, University of LondonA spectre is haunting British politics: the bond markets.Defending Keir Starmer after the disastrous local election results earlier this month, the chancellor, Rachel Reeves, warned that a leadership contest would trigger the wrath of those investors who lend the state money by buying and selling UK government bonds (also known as gilts). The prospect of Andy Burnham winning that contest prompted shriller warnings: the left-leaning contender, after all, had dared to suggest governments should stop “being in hock” to the bond markets.Daniela Gabor is professor of economics at Soas, University of London Continue reading...
theguardian.com
Air France and Airbus guilty of corporate manslaughter for 2009 plane crash
Firms given maximum fine of €225,000 each and are expected to appeal after lower court had cleared themA Paris appeals court has found Airbus and Air France guilty of corporate manslaughter over the 2009 Rio-Paris plane crash that killed 228 passengers and crew.The verdict is the latest milestone in a legal marathon involving two of France’s most emblematic companies and families of the mainly French, Brazilian and German victims of France’s worst air disaster. Continue reading...
cnbc.com
Oil market could enter ‘red zone’ by July as stocks dwindle ahead of summer travel season, IEA chief says
IEA Executive Director Fatih Birol said the single most important solution to the Iran war energy shock is the unconditional reopening of the Strait of Hormuz.
bbc.com
Chris Mason: VAT cut on summer fun - the announcement that didn't leak
Chancellor Rachel Reeves unveils measures aimed at helping families with the cost of living - but is it enough?
theguardian.com
JPMorgan banker countersues accuser, says sexual assault 'lies' ruined her life
Investment banker Lorna Hajdini says ex-colleague Chirayu Rana’s ‘malicious’ allegations ‘wreaked havoc’The JPMorgan Chase investment banker accused of sexual assault in an explosive lawsuit that went viral countersued her accuser, saying his malicious lies destroyed her reputation and “wreaked havoc” on her life.In papers filed on Tuesday night in a New York state court in Manhattan, Lorna Hajdini said her former colleague Chirayu Rana fabricated allegations that she raped and drugged him, in order to attract maximum press coverage, cause her pain and extract millions of dollars from her and JPMorgan. Continue reading...
theguardian.com
UK service sector activity slumps in one of sharpest declines for a decade
Firms hit by ‘perfect storm’ of uncertainty about Labour leadership and impact of Iran warCompanies in the UK’s dominant services sector have reported one of the sharpest declines in business activity in a decade, according to a closely watched index.Businesses are grappling with a “perfect storm” of domestic political uncertainty around Keir Starmer’s leadership as prime minister and the growing impact of the Iran war, leading to soaring costs, supply shortages and job cuts, the report said. Continue reading...
bbc.com
Wes Streeting pledges 'wealth tax that works'
Wes Streeting is proposing reforms to capital gains tax, as part of his pitch for the Labour leadership.
bbc.com
Nvidia's latest record earnings fail to impress investors
The chip giant reported more stellar results but its shares fell after-hours as investors wonder if it can keep up its pace of growth amid greater competition.
bbc.com
EasyJet boss says summer flights won't be hit by jet fuel shortages
The airline has seen no problems with fuel, but says people are booking later because of uncertainty caused by the Iran war.
theguardian.com
EasyJet summer holiday bookings down on last year amid Iran war uncertainty
Airline, which took £25m hit on jet fuel in March, says passengers are waiting later to book tripsBusiness live – latest updatesThe airline easyJet has said its summer holiday bookings are lagging behind last year’s, as the Middle East conflict weighs on consumer confidence and passengers appear to be waiting later to book trips.The budget carrier said it had to spend an unexpected extra £25m on jet fuel in March after the start of the US-Israel war on Iran. Continue reading...
theguardian.com
Parents in the UK: has your childminder stopped offering places or closed their business?
Campaigners warn the decline in childminders is making it harder for families to find flexible and affordable childcare. Share your experiencesThe number of childminders in England has roughly halved over the past decade, with many citing rising costs, low pay and increasing paperwork as reasons for leaving the profession. Campaigners warn the decline is making it harder for families to find flexible and affordable childcare.We want to hear from parents and carers whose childminder has recently closed their business, stopped accepting certain age groups such those over three-year-olds or reduced the number of children they look after. Continue reading...
theguardian.com
‘I knew everyone here’: the tower block with 164 boarded-up homes – and a few residents who just won’t leave
Lund Point in east London was once ‘a beautiful community’, according to Tee Fabikun, who has lived there since 1997. Now just four flats are occupied. Why are Fabikun and her friends hanging on? And what happened to the long-promised redevelopment?Tee Fabikun is sitting in an armchair in her cosy, homely flat, surrounded by her things – papers and letters, family photos, a few Nigerian handicrafts, a forest of houseplants by the window. She is telling me about her neighbours here on the fifth floor of Lund Point, a tower block on the Carpenters estate in Stratford, east London. Next door there’s “a grumpy old man”; well, she thought he was a grumpy old man, but then she saw him in the lift with his granddaughter and he was sweet with her, so maybe he’s not so bad. “There’s always two sides.”In the next flat along is a young couple who met in the building, maybe in that lift. She was living on a higher floor, but moved down and in with him when they got married, and rented out her place. Then there’s a Bangladeshi family who only speak a little English. Fabikun’s first contact with them was when their daughter knocked on the door holding out an exercise book and just said “homework”; after that Fabikun would often help with her studies. And so on. And it’s not just her immediate neighbours on the fifth floor that Tee knows; she knows pretty much everyone in the 21-storey block. Continue reading...
theguardian.com
Rachel Reeves hits back at petrol station heckler – video
Rachel Reeves was repeatedly shouted at by a heckler while she was answering questions from the media at a petrol station in Leeds. As the man drove away in a truck with two St George’s flags on the roof, still shouting, the chancellor responded, saying: 'I love our country', and that his lack of manners was 'not very British'UK politics live – latest updates Continue reading...
bbc.com
UK agrees £3.7bn trade deal with six Gulf states
The deal will remove an estimated £580m worth of tariffs from British exports, but rights groups are critical
bbc.com
TikTok and YouTube 'not safe enough' for kids, says Ofcom
YouTube said it worked with experts to provide appropriate experiences. TikTok said it was disappointed Ofcom had not acknowledged its safety features.
theguardian.com
All this talk about ‘difficult’ cuts, yet the largest part of Britain’s welfare bill is never mentioned. Why? | Zoe Williams
Pensioners vote and young people don’t, so the truism goes. That’s no longer any reason to avoid dealing with the triple lockNothing makes you feel more like a de-developing nation than being reprimanded by the International Monetary Fund (IMF). Rachel Reeves can take solace in trace amounts from the fact that the IMF advised her only to “stay the course” on spending limits – whatever energy or inflation crises are down the line, she shouldn’t cave to demands for government support. Basically, “when the facts change, do not change your mind” – the opposite of the economists’ classic, but then, haven’t we all had enough of classics?It’s a milder rebuke than the one delivered to the then chancellor, Kwasi Kwarteng, in 2022, about which the BBC’s economics editor, Faisal Islam, admitted “even I was taken aback”, creating a ripple effect: other, lesser economy-watchers were taken aback at the abackness that had taken the unflappable Islam. But it still has a sting in its tail, enjoining Reeves to keep her focus on “controlling the rising welfare bill, as well as delivering further efficiency measures in public services, while protecting the most vulnerable”.Zoe Williams is a Guardian columnist Continue reading...
cnbc.com
Japan’s megabanks post record profits, but analysts warn growth may slow as risks mount
Japan's largest lenders may face some challenges to keep profit levels at record highs, amid higher credit costs and current geopolitical risks
bbc.com
Elon Musk's X fined for not complying with Australia's child protection laws
The social media giant will pay A$650,000 plus legal costs, ending a three-year legal saga.
bbc.com
Samsung strike on hold as workers push for AI bonus
The walkout, which was due to start on Thursday, has been suspended while union members vote on a tentative deal.
bbc.com
SpaceX files for stock market debut that could make Elon Musk a trillionaire
Musk's rocket-maker and satellite internet provider will trade under the ticker SPCX
theguardian.com
‘Aramco is selling our sweat and blood’: workers in World Cup sponsor’s supply chain faced safety risks, report finds
FairSquare report claims migrant workers injured in Saudi Arabia received no compensation, including one who says his legs were crushedLying in a hospital bed in Saudi Arabia, his legs encased in plaster casts, Shrawan Shah Rauniyar clung to the hope that at least he would be fairly compensated. After all, when his legs were crushed under a giant metal beam that fell off a forklift, he was working on a project belonging to one of the most profitable companies in the world: Saudi Aramco.Rauniyar, a migrant worker from Nepal, was not employed directly by the state-owned energy company, but like tens of thousands of other migrant workers in the Gulf kingdom, he worked for a small labour supply company, which sent him to work on a project managed by the Italian firm Saipem, which in turn was contracted to Aramco. Continue reading...
bbc.com
The young people rejecting a bank-breaking prom
Teenage entrepreneurs at Huntington School change the way pupils shop for a prom dress.
theguardian.com
‘Give every item a long life’: Vinted boss on how the site is moving beyond fashion
Having shaken up UK clothes retail, the secondhand marketplace is pushing into phones and cameras – and even booksOnce the preserve of jumble sales and charity shops, “preloved” fashion and homewares are now leading style and shopping trends in the UK. After the rapid growth of online retail, Britain is now witnessing “the normalisation of secondhand”, according to Adam Jay, the chief executive of Vinted’s main marketplace arm – a key driver of the trend in recent years.The UK is at the forefront of an international revolution, jostling for position with France to be Vinted’s biggest market, and is also one of its fastest growing markets, as the online marketplace moves beyond just selling clothes and into everything from smartphones and books to rugs. Continue reading...
bbc.com
The fight against foreign developers buying Caribbean beaches
Campaigners in Barbuda, Grenada and Jamaica say they can no longer access their coastlines.
bbc.com
Woman's debts reach £26k as she battles poverty
Gaynor Lake tells how she struggled to pay for heating, rent and council tax and saw her debts grow.
bbc.com
Are supermarkets profiting from higher food prices?
Food prices in the UK have risen, but are supermarkets profiting from higher food prices? Ben Chu reports.
theguardian.com
Meghan Markle’s anniversary candle: who wouldn’t want to pay $64 to celebrate someone else’s marriage?
It smells like sunshine, blue skies and love and laughter, apparently. And it’s all in aid of her and Harry’s eight years togetherName: Anniversary candle.Appearance: A “modern and elegant” candle, “housed in a beautiful ceramic vessel”. Continue reading...
bbc.com
Supermarkets hit back over pressure to cap price of milk, bread and eggs
A minister confirms talks have taken place but says there will be no mandatory cap on essential food prices.
theguardian.com
Martin Rowson on the spiralling cost of HS2 – cartoon
Continue reading...
theguardian.com
Tell us: how open are you about money with your partner?
Are you or you partner a secret spender? Take part in our experimentWe’re looking for couples, who don’t often open up about their finances with each other, to take part in an experiment for the Saturday magazine. Maybe you have a ridiculous Pret habit you don’t mention to your boyfriend or you’re hooked on online shopping and have never revealed the extent of your spending to your wife. Or maybe the two of you have simply never sat down and discussed what you scrimp on and where you splash out.If this sounds like you – and you’d be willing to record and share money diaries with each other in the presence of a Guardian journalist – get in touch and we can share more information. We would run these interviews anonymously. Continue reading...
bbc.com
UK waters down new Russian oil sanctions as fuel prices rise
The change reflects increasing supply concerns over certain fuels due to the effective blockade of the Strait of Hormuz.
bbc.com
Fuel duty freeze extended until the end of the year
Fuel duty was initially cut by 5p in March 2022, under the Conservative government.
cnbc.com
College career path ‘over’ as skilled trade get 30% pay bump, recruitment giant says
"I would say you can make a good career and good money in skilled trade. That's definitely a career track," CEO of world's largest recruitment firm told CNBC.
theguardian.com
Xi and Putin highlight close China-Russia ties during Beijing visit – video
The Chinese president, Xi Jinping, and his Russian counterpart, Vladimir Putin, have praised relations between their countries. During Putin's two-day visit to Beijing, bilateral talks between the leaders reaffirmed Russia and China as close partners in trade and international affairsXi Jinping and Vladimir Putin meet in Beijing less than a week after Trump visit Continue reading...
theguardian.com
‘I don’t worry about a robot takeover’: AI expert Michael Wooldridge on big tech’s real dangers (and occasional blessings)
Almost 50 years after he first got his hands on a computer, the Oxford professor still believes in the power of technology. Can his beloved game theory explain why Silicon Valley’s entrepreneurs consistently misuse it?Michael Wooldridge is like the teacher you wish you’d had: approachable, able to explain difficult things in simple terms, neither dauntingly highbrow nor off-puttingly cool, and genuinely enthusiastic about what he does. “I love it when you see the light go on in somebody, when they understand something that they didn’t understand before,” he says. “I find that incredibly gratifying.”He comes across a regular sort of guy, which, as an Oxford professor with more than 500 scientific articles and 10 books to his name, he clearly isn’t. Typically, his favourite work is his contribution to Ladybird’s Expert Books – an update of the classic children’s series – on artificial intelligence. “I’m very proud of this,” he says, as he hands me a copy from his bookshelf. We’re in his study in the University of Oxford’s somewhat municipal computing department on a sunny spring day. Maybe it’s the campus setting, but our discussion almost takes the form of a seminar. Continue reading...
theguardian.com
Six problems with tax-free childcare
Parents can can claim up to £2,000 a year for each child – but many are put off by the clunkiness of the scheme Any parent who has ever used the UK government’s tax-free childcare system knows what a painful experience it is. Each month when I log into my account, I feel a sense of dread and frustration. Why is something that is such a lifeline for so many parents so difficult to use?The scheme gives working parents an extra £2 for every £8 they spend on childcare. You can claim up to £2,000 a year for each child (or up to £4,000 a year for a disabled child). Continue reading...
bbc.com
Inflation falls to 2.8% but is expected to rise from here
Energy prices were lower due to the government's energy bill support package and lower wholesale prices before the Iran war.
theguardian.com
‘Spooks hotel’: inside the five-star nerve centre of the US takeover of Venezuela
Diplomats, businessmen and US marines mingle at the JW Marriott hotel in Caracas as deals are done and the country’s resources divvied upOver breakfast in one of the swankiest hotels in Caracas, you can hear them mulling Venezuela’s past, present and future in sporadically hushed tones. As diners tuck in to plates of fried eggs, black beans and arepas, snatched fragments of conversation speak of election roadmaps, political fragmentation and oil-fuelled economic growth.But the murmured discussions are not being conducted in Caribbean Spanish by Venezuelan officials pondering their country’s direction after the abduction of President Nicolás Maduro. The accents are North American and belong to the US officials, diplomats and spies now calling many of the shots here after Donald Trump’s controversial military intervention on 3 January. Neighbouring tables are occupied by huddles of musclebound US marines, tattoos covering their bulging calves, baseball caps covering their heads, and walkie-talkies strapped to their hips. Continue reading...
theguardian.com
‘The door to the future of Gaza is still closed’: Trump’s reconstruction promises stall
Diplomatic impasse and lack of progress on the ground has left countries that pledged funds to Board of Peace reluctant to payGaza is in a grim limbo more than seven months after Donald Trump brokered a ceasefire deal: no reconstruction is under way, the so-called Board of Peace is struggling with funding and Palestinian technocrats chosen to run the strip are sidelined in Egypt.In a 15 May submission to the UN security council, the Board of Peace said the “principal obstacle” to realising Trump’s plan for Gaza was Hamas’s refusal to hand over its weapons and cede control of the strip – but several people familiar with the body said funding shortfalls could jeopardise the effort. Continue reading...
bbc.com
'Ghost brokers' targeting 17 to 25 year-olds with fake car insurance online
The finance watchdog warns bogus brokers are selling fake car insurance through social media.
bbc.com
Boss of Sarah Ferguson-linked firm used royal links to threaten worker with jail
In a recording obtained by the BBC, the worker was threatened with jail for allegedly hacking emails at lifestyle app vVoosh.
bbc.co.uk
Business Daily
Trump's pick for the US Fed chair risks rebuke from the president if rates do not fall
theguardian.com
Can Burnham turn ‘Manchesterism’ into a practical offer for government?
Roots of idea for ‘ending neoliberalism’ have been growing over many months – with many different influencesManchesterism is “the end of neoliberalism”. That was the claim made by Andy Burnham in his campaign launch video this week – a film which made an audacious offer not just to his byelection constituents in Makerfield, but how he intended to change national politics and the economy.But the 2026 doctrine of Manchesterism is very different to its 19th-century namesake, when it was a byword for free trade. Continue reading...
bbc.com
Robo-top: The machines that could make your next t-shirt
Most clothes are made in Asia, but new machines could bring some of that work back to the West.
bbc.com
Why does Amazon have no Western rivals?
The internet giant dwarfs other online retailers on both sides of the Atlantic.
bbc.com
Rise in solar panel sales as people 'want to save money'
One director, who has just bought 2,000 panels, hopes to safeguard the company's future bills.
bbc.com
Inside the secretive and lucrative world of orchid breeding
It can take a decade to bring a new orchid to market, so breeders keep their hi-tech processes secret.
bbc.com
Big tech bets on new mascots in bid to seem more cuddly
The likes of Apple, Microsoft and Google are all putting cartoon characters centre stage.
bbc.com
Smart glasses are 'an invasion of privacy' - Meta's are selling better than ever
The biggest tech firms are set to sell millions of smart glasses despite growing privacy concerns.
bbc.com
Not so dusty: How tech is changing woodworking
Woodworking shops have been transformed by tech to make tools safer and more precise.
bbc.com
Cyber-crime increasingly coming with threats of physical violence
While hackers used to sneak into computer systems, intimidation of staff is now more common.
bbc.com
How sunburn inspired a new way to store energy
Molecules that can capture heat could be a useful technology to decarbonise heating.
bbc.com
How Sir David Attenborough built 'Green Hollywood'
The city is responsible for 80% of the world's natural history TV shows.
bbc.com
Gulf economies face long-term hit from Iran conflict
Commentators say it will take years or even decades to repair the damage.
bbc.com
Robots move in as waste firms struggle to find staff
Humanoid robots are being added to the automation of waste sorting.
bbc.com
The threat to summer holidays looming from jet fuel shortages
What impact might shortages have on our summer holidays - and what could be done about it?
bbc.com
Will AI lead to more accurate opinion polls?
It's cheaper and faster to collect people's opinions using AI, but will it make polls more accurate?
bbc.com
Scammers are becoming ever more sophisticated - this is what the fightback looks like
Scams have exploded over the last few years. Can countries and companies come together to turn the tables on the scammers?
bbc.com
The £5.30 orange juice that tells the story of why supermarket prices are sky high
Butter, chocolate, coffee and milk have all seen prices rocket. Tracing back through the story of one particular supermarket staple begins to explain why
bbc.com
Prepare for turbulence - how a prolonged Middle East conflict could reshape how we fly
The Gulf's hub airports made long-distance travel cheaper - but now their future looks unclear.
bbc.com
Sir John Curtice: Why Labour's Brexit focus has shifted from Leavers to Remainers
Will the pursuit of a closer relationship with the EU risk courting electoral disaster by alienating Brexit-backing voters?
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